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The simple interest on a certain sum of money at 4 percent per annum for 4 years is Tk. 87.5 more than interest on the same sum for 3 years at 5 percent per annum . Find the sum of money.

Correct Answer: Tk. 8,750
Let, the sum of money = x <math xmlns = "http://www.w3.org/1998/Math/MathML"><mi>x</mi><mo>(</mo><mn>4</mn><mo>&#xD7;</mo><mo>.</mo><mn>04</mn><mo> - </mo><mn>3</mn><mo>&#xD7;</mo><mn>0</mn><mo>.</mo><mn>5</mn><mo>)</mo><mo> = </mo><mn>87</mn><mo>.</mo><mn>5</mn><mspace linebreak = "newline"/><mo>&#x21D2;</mo><mfrac><mi>x</mi><mn>100</mn></mfrac><mo> = </mo><mn>87</mn><mo>.</mo><mn>5</mn><mspace linebreak = "newline"/><mo>&#x21D2;</mo><mi>x</mi><mo> = </mo><mn>8750</mn></math>

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